submitted the IPO application


According to the Tencent news, today has submitted the F-1 form to the U.S. Securities and Exchange Commission to apply to be a listed company in the United States.

The document shows that plans to be a listed company in the New York Stock Exchange under the ticker symbol of”litb” and initiates an IPO financing of US $86,250,000.

The was established in 2007 as an e-commerce site selling all kinds of fashion goods from China to oversea markets. The website supports 17 major languages with a wide customer base in major developed countries such as EU. According to iResearch statistics, the is the largest site in China in 2012 focusing on exporting. At the same time the approximate number of customers increased from about 500,000 in 2010 to about 2.5 million in 2012.

The prospectus shows that the company’s net revenue increased from $ 58.7 million in 2010 to 200 million U.S. dollars in 2012; but net loss of $ 21.9 million, $ 24.5 million and $ 4.2 million had been recorded in 2010, 2011 and 2012 respectively; cash used in operating activities in 2010 and 2012 were $ 19.9 million and $ 14.1 million respectively.

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